generation as a datum, employing Lazards. With the Anglo/French Government agreement
CLP pushed ahead with the negotiations to
establish a Joint Venture Company.
With the Hong_Kong_Government's approval in principle, the structure of the JVC
was devised notably the Hong Kong stake
in the JVC was contributed by HKNIC, in
which in turn CLP provided equity and HKG
guaranteed loans.
In Europe, there were a series of technical
exchanges between China and France and
Britain, but notably an appraisal by the Chinese of GEC's technical capability.
After protracted negotiations, the UK and French Government signed separate memoranda
with the Chinese Government in April 1983
followed up by a further memorandum on the
UK side in December 1983. These memoranda
covered both financial and commercial
aspects, including confirmation of the acceptability of GEC's design, and covered the principles of the offtake agreement
in the case of the UK memorandum. These
were key documents in determining the
field for subsequent negotiations, particularly on the financial side.
They
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